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government. host: can you take us through the next 48 hours on this debate on the fiscal cliff? what needs to happen? caller: ok. i say, the president should be willing to come up to $300,000, as far as tax increases. we need revenue. $400,000, some people make that. we need revenue. the only way to get it is to get it from people who actually have the money. there is no shame in helping our government. this is our government. the republicans need to understand that social security and medicare -- listen, those are so important. people are talking about i do not want children paying the bill. they will need social security as well. i want republicans to realize that they were elected to do the will of the people. not just the three% or whatever. they all need to understand that we are all affected by their thinking -- the president won the election, right? host: thank you for the call. i want to take you through some of the effects, if we do go off the fiscal cliff, if congress takes no action. this is the chart from the new york times of what will happen immediately and in the next couple
. the president said he is modestly optimistic about a fiscal cliff deal getting done before new year's eve. >> clayton: they all said the same thing. presidential meeting with the leaders yesterday. harry reid. >> juliet: vice president showed up. >> clayton: they must have been all on the same table hey whether we lee this table we will say modestly optimistic. listen to senator mitch mcconnell who may be the linchpin of this whole thing. he said i will take the ball and run with it in the senate. get a deal done. listen to the senator. >> we had a good meeting at the white house. we are engaged in discussions the majority leader and myself and the white house in the hopes that we can come forward sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. we will be working hard to see if we can get there in the next 24 hours. so i'm hopeful and optimistic. >> charles krauthammer calling him a master negotiator. saying if it were left up to him he could solve the syrian civil war in a weekend. >> dave: he can get it done but there
on the fiscal cliff. have you got your holiday shopping done yet? are you done? >> gretchen: i am waiting for three things to come in the mail that they might not arrive. >> i an alert said winter weather causing shipping delays. >> if you are worried about your packages in christmas eve, you delayed yourself. >> gretchen: blame the weather guy. l>> i ordered it on friday. >> gretchen: merry christmas . still no deal in sight just more of the same way blame game . e week before the taxes are going to sky rocket. steve is live in washington. >> good morning, gretchen and everybody. washington is shut down for the christmas holiday . when everybody does come back to town, the ball will be in the democrat's court because speaker boehner was unable to bring his on board. for the plan b. >> onous is on senator reid and the president to come up with a solution and present it to the house and get back to the bargaining table. >> now the president has insisted on a tax hike for the healthy but wants that at $250,000 or $400,000 and not one mill yen and even though the president scaled back his ex
be done to avert this so-called fiscal cliff. ed, good to see you. merry christmas to you. >> reporter: merry christmas, kelly. economists have warned that this could lead to another recession if in fact these massive spending cuts and tax hikes kick in at the same time right at the beginning of the new year. what they're trying to do to avert that is scaled back plan that the president suggested late last week that would basically deal with some of the emergency pests of this. extended unemployment benefits for two million people about to be kicked off their benefits a week after christmas the president also wants to extend tax cuts for the middle class. you heard house speaker john boehner say the problem there that will raise tax rates for some. he thinks that will hurt the economy, although over the weekend in sort of a holiday message the speaker suggested maybe they can come together after the holiday. >> of course hope springs eternal and i know we have it in us to come together and do the right thing. we'll continue to work with our colleagues in the congress and the white hous
as good a job of letting the american people know about the medicare fiscal cliff as he has done in persuading the american people that it's a good idea to tax the rich. senator corker has done some good work over the last several months in a variety of areas on the fiscal matters. but a proposal of his has subtracted my support in which he will subscribe today is a proposal to help make the medicare program solvent by reducing the growth of out of control spending by nearly a trillion dollars in exchange for the request for the president for a 1 trillion over increase in the debt limit. taking these provisions together over the next few weeks would provide certainty for the economy and would be the linchpin for the budget agreement that would get the economy going again. republicans have said and the two of us have said we are ready to do a whole variety of things to get a budget agreement, but we have to have someone address the medicare fiscal cliff for the seniors and soon thereafter young americans are going to be pushed over the cliff and they are going to look back at us a
of the issues the parties said they were concerned about leading into the fiscal cliff. the payroll tax cut is going to expire. no one is talking about extending that. that is the one that gives the biggest bang for the buck. host: if a deal does get done, how much of the cliff aristo going to be staring at? guest: you are staring at one cliff, the payroll tax cut going away. that is 3% of every wage earner up to $100,000 or so. that will have a big economic impact. you are approaching the debt ceiling cliff which will be another standoff. i assume that is where we will get into the discussion of spending cuts that seems to be absent from whatever deal they are talking about. guest: if there is no deal, the full tax cuts go away. the tax increases and spending cuts will go into effect. about iran fiscal policy given the time. but something in between. maybe the minimum of $200 billion and the maximum of $600 billion. host: some statistics with several charts on how it affects you in your income bracket. the richest 20% with scene increase of about $20,000 increase in taxes owed. for those m
cliff goes off and nothing is done to adjust it. individuals now getting $45,000 back in '82 when first enarngted which is a lot different than $45,000 today. so if individuals earning $45,000 today might be impacted by additional taxes by this amt if something's not done. and, again, this is just a way to try to -- the problem with the amt is it wasn't adjusted for inflation so as time went on and prices have gone up and people have made more money and inflation has gone into place, things have not adjusted for the what the amt is now currently so this is going to be a big piece and those in the finance world are looking at making sure that this thing doesn't come into play. come 2014, people will have a big surprise if they file their taxes and this amt is not adjusted. >> ryan, look into the future which is ten days. do you think a deal will be done? >> what we're going to have, we're going to have a short-term deal. bottom line is if these spending cuts are way too extensive. the medicare cuts, way too extensive to put together in ten days. they haven't done enough to get that far.
, your taxes go up $3,000. if nothing is done to avert the fiscal cliff. if you make $104,000, doing pretty well, you see your taxes go up $6200. if you make $400,000 a year, you see taxes go up over $9,000. that's overnight. the bush tax cuts sunset if we don't do anything to variety the fiscal cliff. this is something that the president and republicans agree on. they agree 98% of the americans shouldn't have taxes raised, but that 2% disagreement brings us to the edge of the fiscal cliff. >> the ceo of starbucks says, hey, you know what? let's write on our coffee cups "come together." do you think anybody will pay attention to that in washdz? >> you know what? anything and everything helps. just merely spreading the message america is watching and waiting for congress to act to find a way to reason together, that's an important act, and everyone doing their part can do, i say good on him. we need to send this message to washington and make sure it isn't settled. we'll go deeper into this tonight at 7:00 as well. this is urnlggent. the clock is ticking, suzanne. >>> many american fa
left for lawmakers to come up with a way to avoid the fiscal cliff. who is feeling more pressure to get things done, the president, the democrats, congressional republicans?. patti ann: and funeral services are now set for two firefighters killed in an ambush. we're now learning more about why a man intentionally set a fire in order to trap the first-responders. >> the note was important for us to find because at least it provided us with the information leading toward the intent of the shooter essentially to burn undo the neighborhood in which he resided and to kill people. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. gregg: all right, new developments on the christmas eve ambush that left two firefighters dead up in state new york. police say they have human remains in the burned out home of the gunman. david lee miller is live in our newsroom. david, so what do we know
basketball but what's the spin on the fiscal cliff hanger? can congress get a deal done before the deadline? >> this is a wbal-tv 11 editorial with dan joerres. >> as we come to the close of another year, we think of our loved ones who are sacrificing their lives for our liberty and pursuit of happiness. we take our regularly scheduled editorial time to share greetings from those in the military to families in maryland. they will also be available on wbaltv.com, click on editorials. from the wbal-tv 11 family to yours, happy holidays. >> i'm dale inman from edgewater, maryland, and i wish a happy holidays to rich, grace, win, pearson. >> i'm mark schaffer from annapolis, maryland. i send my hov to jennifer, kai, dana and mom and dad. >> michelle carter, a shout out from kabul, eaven. afghanistan. i would also like to shout out to my number one team, the baltimore ravens. >> you're watching wbal-tv 11, live, local, late breaking. this is 11 news sunday morning. >> good morning, welcome to 11 news sunday morning. i'm jennifer franciotti. lisa has the day off. we'll get to our top stories but
this -- the president wants this country to go off the fiscal cliff, to have a sunset when it comes to our fiscal situation is that really what's going on here? lawmakers are on vacation, so will anything get done in time? >>> lots of people on vacation, dana. a winter storm may be headed your way. for all of the people traveling, 93 million americans on trains, planes, and automobiles. what it means for your holiday travel plans. good morning, welcome to "starting point." chilly in new york city. 7:00 in the morning. i'm alina cho in new york. >> and i'm dana bash in washington. monday, december 24th. christmas eve. "starting point" begins right now. >> and our "starting point," a u.s. contractor in kabul gunned down and killed this morning by a woman wearing an afghan police uniform. it happened inside kabul's police headquarters. the latest in a string of suspected green on blue attacks that are hitting morale and eroding trust in allies there. our pentagon correspond respondent barbara starr up early for us working her sources. joins us live from washington with more. >> good morning, alina.
fiscal cliff. senator corker has done some very good work over the last several months in a variety of areas in fiscal matters. a proposal of his that has attracted my support which he will describe is a proposal to help make the medicare program solvent by reducing the growth of out-of-control spending by nearly $1 trillion in exchange for the expected request from the president for a $1 trillion increase in the debt limit. taking these two provisions together over the next few weeks will provide certainty for the economy, will be the linchpin for a budget agreement that will get the economy going again. republicans and the two of us have said we are ready to do a whole variety of things to do this, but we have to address the medicare fiscal cliff, or the seniors or soon thereafter young americans will be pushed over the cliff and will look at us and wonder why we did not do anything. i am proud to join the senator in support of his proposal, and i would like him to describe it and say whatever he would like to say. >> thank you, lamar. it is a tremendous pleasure to serve with lam
? >> the fiscal cliff puts it in jeopardy. many are afraid to invest in their business and hire new workers. make plans. >> no longer vetting a deal is done by new year's eve f. one comes by early january definitely a possibility. the economic impact should be minim minimal. if one comes later than that the damage to the economy is already done and you will see more talk of recession and analysts started cutting the earnings growth in the fourth quarter. >> one thing they don't like is uncertainty. apple released a new product and there will be another new product. >> now that you got them under the christmas tree. a man who has been right predicting apple products before a 5th generation ipad will look like the mini but some what thinner narrower and shorter than a regular ipad so not as small. apple is working on another generation of the ipad mini. it could be two new products. >> we could have just wasted our money at christmastime. >> sales were down from what was expected. >> yeah, the holiday shopping season a disappointment. the first tally on the sales is now in. spending polls said down
. >>> president obama heading back to washington to tackle the fiscal cliff today. he will get to d.c. just as the house and senate expected to reconvene tomorrow. not much time left for a notoriously slow-moving washington to get something done. brianna keilar following the drama from honolulu, hawaii. she's there with the president. what is the latest. >> president obama is officially cutting short his christmas vacation and heading back from hawaii. tonight, hawaiian time, early in the morning on the east coast and returning to the d.c. area on thursday. as the senate is set to reconvene and all eyes really are looking there to see what senate majority leader harry reid can cobble together in order to get republican support to avoid the fiscal cliff. he'll also have to put together something that will get republican support in the house. this is a last-ditch effort and will be obviously very difficult if it succeeds at all. at this point, the white house still wants that threshold for income tax rates to be at 250,000. it's unclear, exactly what the senate proposal is going to look like.
in the fiscal cliff negotiations. national security is also on the line with massive cuts at the defense department as part of the deal. leon pineda is prepping to send layo layoffs. >> if there is a deal done that doesn't set aside thense cuts because we already cut 489 billion out of the defense department i am disappointed as the president as commander-in-chief and disappointed with the republican party for letting this happen. >> sequestration was the penalty they imposed on itself last year when they failed to find $1.2 trillion of cuts they live with. now mhalf are directed at the pentagon but the dramatic across the board cuts can be offset by raising taxes on the rich. >> if we have raised revenue by the wealthy paying more that is sufficient to turn off the sectsec quest tore the automatic cuts. >> senator graham told me he thinks it is possible to find 600 billion cuts elsewhere to suspend for a decade but a bipartisan agreement probably can't be reached until february or march. peter doocy, fox news. >>> 17 after the hour. still ahead is one of your new year's resolutions to s
america from going over the fiscal cliff. as the house and senate reconvene tomorrow. the clock is ticking. six days until the deadline. the way things work in washington, can they actually get something done before the end of the year? brianna keilar, what is the latest on this? >> hi, there, drew. president obama will be heading home from hawaii tonight, logical time arri arriving in d.c. thursday morning when the senate will be reconvenin reconvening, and the senate, all eyes on now, that we look for the last-ditch effort to avoid the fiscal cliff. even though the president is returning on thursday, we may not see the senate roll out its bill to deal with the fiscal cliff. perhaps for a couple of days. this is entirely possible we've learned from sources as senate majority leader harry reid works to get republican support in the senate, which he will need if he's going to pass a bill. and so we're still waiting to see exactly what it will look like that the white house wants for the threshold on income tax rates to cut off at $250,000. we will see if that ultimately is what senate major
we'll go over the fiscal cliff and the inaction of congress has the potential of plunging the united states into another recession. that said, they can't afford to becoming a reality. >> so far they have been very fortunate that the markets have not reacted with panic. you have not seen any plunge on wall street and the like but once you go over the cliff, especially if it is not just a matter of a day or two to allow for a house vote, but if it is really the case that politicians here in washington are so dysfunctional, kelly, they can not get the people's business done, i think then you will see a market reaction that, as you describe it, could plunge the country back into recession and it is not just the united states. remember, we're the world leader in terms of so much when it comes to the economy. it could cause worldwide implications. europe already is on the verge of trouble. to have the united states go off the edge would be catastrophic, for the world, for the global economy. kelly: juan, i was talking to a very good friend of mind who lives here in the united states. he is
the fiscal cliff with a well thought out changes throughout the budget on the spending, on entitlements, on taxes. we have to do it all and we have to do it thoughtfully and proactively. what i fear we will see is a grab bag of things that people may want to get rid of. they basically want to make them disappear, so the wave the magic pen and say we will keep the policies in place but we will not pay for it appeared that what i'm afraid we will see. what i hope they will do is put in place the next steps. so if they do something that avert the cliff, which would be a good thing, i hope they have an agreement so january the members come back to town and keep working on this. this is not an issue they can walk away from. until we deal with a fiscal challenges, be cannot deal with any of the problem. we really are devising our economy. the consequences of inaction here on fixing our depth is a and death situation are tremendous. the people who will bear the biggest cost of this is the next generation. i think it reflects an incredible unwillingness to do the right thing by our kids and gra
until we hit the fiscal cliff. the president is cutting short his hawaiian vacation to go back to work. we'll look at whether a deal is likely to get done. >>> and not what people in alabama wanted for christmas. tornadoes ripped through the south. >> i prayed to god as loud as i could and i was just praying for my safety. and i knew that -- i prayed that the church stayed put. rsal] ♪ everybody well don't you know it's me now? ♪ ♪ yeah who's it, who's it huh? ♪ ♪ willy's back with a brand new beat now, ♪ ♪ yeah doin' it doin' it up! ♪ heyyy yeah, tryin' to bite my style! ♪ ♪ heyyy yeah, how you like me now? ♪ ♪ na na na na na na na na ♪ and everybody go uh! >>> we told you last hour president obama is spending his last few hours in hawaii before returng early to washington. he's expected to arrive tomorrow, just five days ahead of the fiscal cliff, which includes an across the board tax hike that congress has tried but failed to undo. cnn's dana bash is with us from washington, our senior congressional correspondent. we spoke last hour. you told us that hour
, working to finish the task before us in reaching an agreement to avert the fiscal cliff. democrats are ready to work and, yes, ready to compromise. we understand we will not get it all our way. the legislative process is about compromise. democracy is about compromise. we have not done much of that this year, and frankly this house has been an extraordinarily partisan house where we passed legislation after legislation which the leadership knew it would not be adopted by the senate and the president would veto it. that has not been a constructive experience for the house or a constructive experience for america. i would hope the speaker today would call the house back into session to address these serious challenges confronting our country and giving confidence to our people, that their government is at work, that their government can work, and that their government will work. thank you very much. questions? yes. >> did you get a communication from the majority leader that they would be coming back? >> they would be discussing it today. i know they are discussing that issue. very f
with the fiscal cliff. i'm looking now to congress and say, pass the amt patch today. >> gretchen: all right. we'll see if they're listening to marty, a cpa who is a little nutsoutrig to get everything done before year's end. >> thank you very much. >> gretchen: georgetown cup cakes secret ingredient this new year, champagne? we're showing you how it make the party even sweeter with sophie. yep, she's just one part of the team with our others and she's here hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. >> gretchen: welcome back. wicked weather like this wreaking havoc on airports across the country. what can travelers expect? wfxt's katherine is live at logan international airport with the latest op the travel nightmare out of boston. good morning. >> good morning, gretchen. the sun is shining on us here in boston. but flights already beginning to be affected by the storm. flights going to dallas, columbus and
Search Results 0 to 20 of about 21